Archive for February, 2007

First step to sold!

Monday, February 26th, 2007

We accepted an offer on our house tonight, full asking $268K with $4K closing credit to the buyer. We listed on 2/16 so its only been 10 days. :) Pretty good for the 'burbs as the average right now is about 27-30 days for an offer. :)

It was pretty much what we wanted, as we planned to originally list at $265K and hopefully get at least $260K. Hopefully the inspection will go well. We spent a lot of time fixing little things we knew would come up on the report, so hopefully we caught most of it and don't have to go down further. :) Closing is set for March 29.

This will be an interesting new few weeks! Heck months!

It’s gonna be ours!

Sunday, February 25th, 2007

Well we are officially out of the inspection period, and were able to negotiate $7500 worth of closing costs into the deal based on some extra repairs the house would need from the inspection results. :)

These are the latest photos from the inspection, in case I didn't mention it. There's about 100. :)

There were some questions on the age of the foundation, as the 93 year old surface was a bit crumbly in places, and had some past patched leaks based on a bad job done on the front steps, where water was flowing up next to the house. We had a foundation guy come out and say how we can seal it up, keep water away from the house to prevent further deterioration, etc. It was a few thousand for that (we could do quite a bit ourselves, so maybe much less), but a lot cheaper than say a $30K foundation replacement which is what would've scared us off the house completely.

The house directly across the street just sold too, is 600 sq. ft. smaller and a run of the mill remodeling job, and sold for $108,000 more, so we're excited that we'll see a good return on our investment when we sell. We're hoping this house will reap enough profit to get us into the larger dream house we really want.

The neighborhood is soo cute and "Portland-esque" how we wanted, yet quiet and safe. We can walk to beautiful parks, yummy restaurants, nightlife hotspots, Trader Joes, etc.

This will definitely be a project though. But I'm a born problem solver and love to see projects to completion. We definitely want to keep our costs in check so that we don't overspend on remodeling, though.

Oh and we definitely have to sell our current house to even start spending money on the new place. :) We had an open house today and had a few couples through. Along with several others the past week it's been live on the mls. Pray we get some great offers! We had an agent's tour on Tuesday and every agent said the house was priced right and that it looked like we hired someone to professionally stage it. Not one negative comment about the decor, paint colors, or anything to fix to sell faster.

So the last hectic month we spent staging as well as tidying up outside (I spent 3 hours pressure washing the patio and driveway last weekend), was well spent.

I was addicted to the shows "Designed to sell," "Buy Me," and the like so I had help. :) We spent about $400 in various staging costs... new paint, tool rental, new dining light as I want to take the current one with us to the new house I LOVE it so much, etc. So that was much less than a typical "Designed to sell" $2000 budget. :)

Offer accepted!

Wednesday, February 14th, 2007

We're now in the inspection period for our craftsman house o' luv. It's the perfect Valentines gift. :)

Grandma's luv shack

I'm praying that the report comes out good, or that the seller will pay for any needed major repairs. :)

House offer take 3

Tuesday, February 13th, 2007

We put in an offer on this cute craftsman!!!

It's a 2300 sq. foot fixer, we call it the "Grandma House." See pepto-bismol pink walls in the Flickr photos. :) It's cheap enough that when we sell our current house, we should be able to put down 10% and have about $30K up front to fix this house up, and maybe flip it over the next year or two if the market doesn't crash out. If it does, it will be a fine house to stay in for a while. :) The mortgage payment is not much more than our current home, so we'll defintely have the income to put more into it if we want. This house is $140K less than the last house, and $170K less than the first house we had fall through.

The market is nuts right now, the new listings go within a few days. It's like circling vultures. We looked at several open houses on Sunday, all were packed with people. That being said there are plenty of overpriced homes just sitting on the market for months too... but when gems like these are priced right, they are getting snapped up by serious buyers.

This house actually had a pending offer on it right after we saw it before we even had a chance to put an offer in. I was sad. :( But we just found out this afternoon that just fell through so we are excited to see if we get it! It went on the market on the 5th and had multiple offers so we might have to compete now.

Sadly, it is a power of attorney for an elderly couple, so likely they died or are in nursing homes. There were little collections everywhere kind of like my Grandparents house in MN. But everything was taken care of like they loved this house, and it had a good warm energy. The son is driving up from San Francisco tonight and will see our offer tomorrow as well as well as start clearing out the home. The offer will expire at 5 on Wednesday... so we have 41 more hours to wait!! EEk.

We're already moved in to this house in our minds. Its hard not too... I'm envisioning designing my own custom kitchen and baths as we'll add another bath, maybe 2... The basement will be a photography studio/media room with hopefully a bar and maybe wine cellar, as well as additional office space. If we get really motivated, we'll add an egress window and have a 4th bedroom for resale. Oh so much work but we're really excited!

House prep work

Friday, February 2nd, 2007

No word on the house we're in backup for yet. If they have an 10-day inspection period, I probably won't know until next Friday either if negotiations or financing fell through for the first offer. So we're touring more houses on Sunday.

I'm definitely getting more motivated to move. Parking downtown is becoming a PITA as my usual spot across the bridge has been full this week and I've had to squeeze my Mazda into super-compact spaces in a 4-hr. SmartPark for more $$. 4 hours at work make coming in at all pointless, and I'm too cheap to pay $8-$13 a day to park non-reimbursed (my usual parking is $4.50 but I have to walk 10 minutes across the bridge. Grrrr!

Anyway, in prep for our house to sell, is this weekend's list of To-Do's:
  • Laundry (Me)
  • Clean Master, Bath and Closet (Me)
  • Fix trim in office (Jer)
  • Take stuff to Goodwill (Both)
  • Organize Garage (Both)
  • Clean Fridge (Me)
  • Clean Stove (Jer)
  • Clean My Office Closet (Me)
  • Stage Jeremy's Office (Jer)
  • I'm also registering for some Cake Decorating classes starting on March 1. I'm excited. Ace of Cakes on Food Network is like the best show EvAr and has motivated me. My girl, Jenny, in MN is taking similar classes and highly recommends them. :)